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US stocks rebounded and the market moved to expect the Fed's first rate hike earlier than previously forecast. The 2s10s Treasury yield spread also narrowed sharply since the Thanksgiving holiday.
Earlier expected rate hikes and a flattening yield curve point to tighter financial conditions that can firm the dollar and weigh on commodity prices.
reuters.comDec 7, 2021After 4,478 past macro events, US Dollar (Broad) moved a median +0.0% over 5 sessions (51% higher; middle half -0.4% to +0.5%), and +0.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
